Gold price gets a negative signal – Analysis - 04-09-2018

Gold price hovers around the EMA50, noticing that stochastic begins to provide negative overlapping signal on the four hours’ time frame, waiting to motivate the price to resume the bearish trend in the upcoming sessions, which depends on holding below 1208.40, as our next target is located at 1180.00.

Therefore, the bearish trend will remain suggested for today, noting that breaching 1208.40 will stop the suggested decline and lead the price to start recovery attempts that target 1220.00 followed by 1238.31 levels as next main stations.

Expected trading range for today is between 1180.00 support and 1210.00 resistance.

Expected trend for today: Bearish